SENDERO VERDE

NEW YORK, NEW YORK

Sendero Verde is a transformative, nearly full-block development in East Harlem, New York. The Sendero Verde complex is home to 709 affordable housing apartments ranging from low to moderate incomes, with apartments reserved for formerly homeless individuals. The project’s first phase includes 361 affordable apartments spanning two buildings, B-North which is 15 stories, and B-South which is 10 stories. Amenities for this property include a 51,000-square foot space for a school with a full gymnasium, a 12,000-square foot space for a Union Settlement Association community center for seniors and youth, an 18,000-square foot publicly accessible courtyard featuring a children’s play area, adult outdoor exercise equipment, seating areas, over 11,500-square foot of Greenthumb Community Gardens and a stage for community events.

The second phase of Sendero Verde includes 348 additional affordable housing apartments serving a variety of income tiers. Building off the project’s commitment to serving the East Harlem community, the developers have partnered with Promesa, an affiliate of the local nonprofit Acacia Network, to provide social services for the project’s formerly homeless population and other residents in need of care.

Financing for this property was facilitated by Bank of America and Goldman Sachs Urban Investment Group and developed by L+M Development Partners and Jonathan Rose Companies. Sendero Verde was developed using the 4 percent Low-Income Housing Tax Credit (Housing Credit).